Citrix Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended December 31, 2015; Provides Earnings Guidance for the First Quarter Ending March 31, 2016 and Fiscal Ending December 31, 2016
For fiscal year 2015, the company reported annual revenue of $3.28 billion, compared to $3.14 billion for fiscal year 2014, a 4% increase. Annual net income for fiscal year 2015 was $319 million, or $1.99 per diluted share, compared to $252 million, or $1.47 per diluted share for fiscal year 2014. Annual net income for fiscal year 2015 includes impairment charges of $123 million related to certain intangible assets, which are included in amortization of product related and other intangible assets. Annual non-GAAP net income for fiscal year 2015 was $695 million, or $4.34 per diluted share, compared to $565 million, or $3.30 per diluted share for fiscal year 2014. Annual non-GAAP net income for fiscal year 2015 includes net tax benefits of $21 million, or $0.12 per diluted share. Cash flow from operations was $1.03 billion for fiscal year 2015 compared with $846 million for fiscal year 2014. Income from operations was $350,085,000 against $302,311,000 a year ago. Income before income taxes was $311,877,000 against $275,706,000 a year ago.
The management expects to achieve the following results at the consolidated level for the first quarter of fiscal year 2016 ending March 31, 2016: net revenue is targeted to be in the range of $785 million to $790 million. GAAP diluted earnings per share is targeted to be in the range of $0.28 to $0.31. Non-GAAP diluted earnings per share is targeted to be in the range of $0.91 to $0.93, excluding $0.31 related to the effects of stock-based compensation expenses, $0.14 related to the effects of amortization of acquired intangible assets, $0.15 related to restructuring charges, $0.05 related to the effects of amortization of debt discount, $0.17 related to separation costs associated with the previously announced spin-off of the GoTo business and $0.17 to $0.22 for the tax effects related to these items.
The management expects to achieve the following results at the consolidated level for the fiscal year ending December 31, 2016: net revenue is targeted to be in the range of $3.31 billion to $3.32 billion. GAAP diluted earnings per share is targeted to be in the range of $2.50 to $2.60. Non-GAAP diluted earnings per share is targeted to be in the range of $4.65 to $4.75, excluding $1.27 related to the effects of stock-based compensation expenses, $0.53 related to the effects of amortization of acquired intangible assets, $0.19 related to restructuring charges, $0.21 related to the effects of amortization of debt discount, $0.71 related to separation costs associated with the previously announced spin-off of the GoTo business and $0.66 to $0.86 for the tax effects related to these items.